August 2018 UK public sector finances 21 September 2018

  • Prior -2.872bn. Revised to -3.072bn
  • Ex-banks 6.753bn vs 3.400bn exp. Prior -2.008bn. Revised to -3.936bn
  • PSNCR 3.091bn vs -19.233bn. Revised to -18.926bn

Big jump in borrowing.

– Borrowing in the current YTD (PSNB Ex) 17.8B; 7.8B less than a year-ago
– Borrowing (PSNB Ex Bank) lowest YTD level in 16-years (2002)
– Borrowing in August 6.8B; 2.4B more than in August 2017
– PSNB Ex saw first y/y increase in net borrowing for 3-years (Aug 2015 on Aug 2014)
– Debt (PSND Ex) end of August was 75.2% of GDP; an increase of 15.9B over August 2017
– Contributions to the EU in August 2018 were 1.0B, up 0.6B on August 2017

Ryan Littlestone

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